Queensland Consolidated Acts

BUILDING INDUSTRY FAIRNESS (SECURITY OF PAYMENT) ACT 2017 - SECT 36A

36A All retention amounts withheld to be released from retention trust account

(1) This section applies if a contracted party becomes entitled to the release of a retention amount held in a retention trust.

(2) The trustee must not release the retention amount other than by—

(a) withdrawing the amount from the retention trust account; and

(b) depositing the amount into the contracted party’s account at a financial institution.

Penalty—

Maximum penalty—200 penalty units or 1 year’s imprisonment.